Latest News:

Super assets reaches $2.1 trillion

Australia's retirement savings system grew to $2.1 trillion by the middle of 2016, according to new statistics published by APRA.


In its Annual Superannuation Bulletin, released yesterday, APRA revealed total assets hit $2.1 trillion as at 30 June 2016.

Of that total, $621.7 billion (29.6 per cent) was held in SMSFs and $1.29 trillion was held by APRA regulated superannuation entities.

The remaining $185.5 billion comprised exempt public sector superannuation schemes ($132.2 billion) and the balance of life statutory funds ($53.3 billion).

Retail funds held 26 per cent of the total $2.1 trillion; industry funds held 22.2 per cent; public sector funds held 17 per cent and corporate funds held 2.6 per cent.

As at 30 June 2016, there were 144 APRA-regulated RSE licensees responsible for managing funds with more than four members.

Of the funds with more than four members, the annual rate of return for the year ended June 2016 was 2.9 per cent. The five-year average annualised rate of return to June 2016 was 7.4 per cent and the 10-year rate of return was 4.6 per cent.

Australian superannuation members paid $11.72 billion in fees for the 12 months to 30 June 2016, according to APRA.

Read more:

New chief executive at OFX Group

Fund managers looking to ‘avoid the blow-ups’

Confidence dips in final month of 2016

Investors being short-changed by bond ETFs

Australian pension portfolios should diversify

 

promoted stories

Appointments

Synchron, AFSL, Australian Financial Services Licence, Sheridan Wright, South Australia, Northern Territory, Don Trapnell

Staff Reporter

Fitzpatricks Private Wealth, Melbourne, Chris Giaouris, David Marasea, Chronos Private, Marasea Partners, John McMurdo

Staff Reporter

AMP, Evermore Money Management, Chris Chetham, Amirthan Arasaratnam, AFSL, dealer group

Staff Reporter

Analysis

Jost Stollmann

Standish Mellon, BNY Mellon, Rowena Geraghty, Marine Le Pen, Francois Fillon, Emmanuel Macron, French elections, France, presidential election, Frexit, European Union, EU, European markets

Rowena Geraghty

Aleks Vickovich

fa-twitter